ConocoPhillips (COP) Position Lifted by Cypress Asset Management Inc. TX
Cypress Asset Management Inc. TX boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 23.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,355 shares of the energy producer’s stock after buying an additional 4,982 shares during the period. Cypress Asset Management Inc. TX’s holdings in ConocoPhillips were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Advocacy Wealth Management Services LLC increased its position in ConocoPhillips by 4.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. Advantage Investment Management LLC increased its position in ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after purchasing an additional 958 shares during the last quarter. Westside Investment Management Inc. increased its position in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares during the last quarter. Massey Quick & Co. LLC acquired a new position in ConocoPhillips in the 1st quarter worth about $123,000. Finally, Crestwood Advisors Group LLC acquired a new position in ConocoPhillips in the 1st quarter worth about $131,000. 68.99% of the stock is currently owned by hedge funds and other institutional investors.
COP has been the topic of several research reports. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Citigroup Inc. dropped their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Cowen and Company set a $55.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $54.13.
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ConocoPhillips (COP) traded down 1.31% during trading on Friday, reaching $44.52. The company’s stock had a trading volume of 1,613,866 shares. The firm’s 50-day moving average is $44.14 and its 200-day moving average is $45.74. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The stock’s market cap is $54.18 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The company had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the company posted ($0.79) earnings per share. Equities research analysts forecast that ConocoPhillips will post $0.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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